Cryptocurrencies are digital assets that function on different Networks. There are many different Cryptoassets so there are many different Networks out there. Some coins are supported by multiple networks such as Tether (USDT) which currently is supported by the Binance Smart Chain (BSC/BEP20), Tron Network (TRC20), Ethereum Network (ERC20) and more.
We always want to ensure you receive your coins safely so we may ask you to reconfirm your wallet address and the network in which you intend to receive the coins. We ask this because coins sent on the incorrect network will result in a loss of coin.
When locating your wallet address within your wallet provider, the network of the selected wallet address should be displayed for you so that you know which network you are intending to receive the coins.
There are many wallets available that support different networks so always refer to your wallet provider for guidance on how to send/receive assets, and the coins and networks that your wallet supports. Always complete thorough due diligence and research into any coins, services, platforms, or wallet providers you consider.
Feel free to checkout the rest of our FAQ page for more Crypto assistance and let us know if have any further questions.
Additional examples:
ERC20 tokens are coins that operate on the Ethereum Network. A balance of Ethereum (ETH) in your wallet is required to send ERC20 tokens from your wallet. This is due to transaction fees on the Ethereum Network are paid for using ETH.
USD Coin (USDC) is supported by 7 Networks at this time. USDC is a stablecoin pegged to the US Dollar and you may find more information in our Coin Guides section of our website.
Fantom (FTM) is supported by the Fantom Network (FTM) (Mainnet), Ethereum Network (ERC20) and Binance Smart Chain (BSC/BEP20).
Please note that some wallet addresses may appear the same even if they are on different networks, whereas as some may differ entirely.
Alwyas ensure coins are sent on the correct Network as any mistake will result in a loss of coin.
Dear valued BC Bitcoin UK Clients,
I hope this email finds you well. We are reaching out to inform you of some significant changes to our services that directly impact our operations within the United Kingdom. Regrettably, due to the recent regulatory developments introduced by the Financial Conduct Authority (FCA) and the implementation of the new Financial Promotions Regime, BC Bitcoin is no longer able to offer our services to clients based in the UK. This very difficult decision is in compliance with the regulatory framework and ensures that we uphold the highest standards of transparency and legality. You can view the FCA publication here: https://www.fca.org.uk/publication/finalised-guidance/fg23-3.pdf As a result, we would like to inform you of the following changes and provide guidance on how to manage your assets with BC Bitcoin:
1. **Service Termination for UK Clients:**
BC Bitcoin will no longer be able to accept new purchase orders from clients residing in the United Kingdom.2. **Continued Operation Outside the UK:**
Despite the changes within the UK, BC Bitcoin will continue to operate outside of the UK as normal. Our services will remain unaffected for clients in other regions.3. **Withdrawal of Assets:**
For our UK clients holding assets with BC Bitcoin, we want to assure you that your assets are secure. You have the option to safely withdraw your assets or exchange them to GBP or EUR and subsequently withdraw. We have streamlined the withdrawal process to ensure convenience for our clients.4. **Conversion of Assets:**
To convert your Holdings to fiat please log in to your BC Bitcoin account and submit a sell order for the amount of coin you hold with us. During the process you will shown how much you will receive and asked the bank details you wish to receive payment to. In addition, you can request the conversion by emailing info@bcbitcoin.com from your registered email address. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process.5. **Withdrawal Procedure:**
To initiate a withdrawal, please email your request to info@bcbitcoin.com from your registered email address. You may be asked some security questions to verify your identity. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process. These changes are effective immediately, and we appreciate your understanding and cooperation during this transitional period. We understand that this may be an inconvenience for our UK clients, and we sincerely apologise for any disruption this may cause. Thank you for being a valued part of the BC Bitcoin community. We are committed to providing you with a seamless experience as we navigate through these regulatory changes. If you have any questions or concerns, please do not hesitate to reach out to our customer support team at info@bcbitcoin.com Kind Regards